News

Scotland's local government pension scheme deficit has more than doubled from £3.8bn to £9bn since 2009, its spending watchdog says.

PwC has expanded its pension consultancy team with two partner appointments and a senior level hire from The Pensions Regulator.

BT has announced Paul Spencer will become trustee chairman of the £35bn BT Pension Scheme on 1 March.

US - Pension obligations will continue to weigh on states' credit ratings, Moody's Investors Service said in a report.

SPAIN - The Spanish government will raise the retirement age today in a renewed bid to restore investor confidence after a €20bn ($27bn) plan to shore up savings banks failed to tame the nation's borrowing costs.

GLOBAL - Have you missed the biggest stories in pensions this week? Find out below, as we list the top 10 most popular stories on www.globalpensions.com over the past seven days.

UK/US - State Street has teamed up with F&C Investments to provide an environmental, social and governance (ESG) reporting service to help investors meet their stewardship goals.

US - Orange County, California has lost its appeal of a lower court's ruling that a 2001 retroactive increase in retirement benefits for the county's deputy sheriffs didn't violate the state's constitution.

UK - The Department for Work and Pensions is to take action to stop firms using differences between defined contribution regulations to cut scheme costs when faced with auto-enrolment.

NETHERLANDS - The coverage ratio for pension fund ABP hit 105% at the end of 2010, surpassing its target for the year.